On Daily Time frame it has broken 100DMA and and still trading below 100DMA since last 2 days.
It has trapped most of retail traders with their own sentiment that it will shoot up like a rocket on Result day like it did in previous result day.
But going in Market with sentiment is always risky.
Right now it is in Critical Zone between 220-226...
Chart is self explanatory about positional trade setup on buy side only.
Target and levels are given on chart.
If you have any doubt or suggestion, do comment.
My personal view is bullish on MOTHERSUMI.
This is for Positional Trade
Mothersumi is forming double bottom pattern same like it did before.
I have marked the formation of double bottom pattern and also the previous formation of it.
You can take position once the neckline will get tested for support. And then it will be easy target of 35-40 points up move in just couple of days....
There is a rounding pattern formation in Motherson Sumi. Go through the chart, it is self-explanatory. I'm long on this stock as fundamentally also it is very strong. The results are on 4-6-21. So keep it on your watchlist.
Feel free to share any reviews or feedbacks.
Disclaimer: This analysis is only for educational purposes.
Motherson Sumi near support and 200dma
On upper side if breaks 108, First Tgt 115, 121 (treandline resistance)
Sl can be maintained below the support line (104.35)
Swing short should be avoided as long as it doesnt break 200 dma as well.
Note: This is for educational purpose only.
There is no confirmation yet but seems there might be a channel breakout (bearish) as there is huge selling volume. However, confirmation is needed as the channel has not broken downwards.